Sen. John McCain (R-AZ) said Thursday that he had no regrets about picking former Alaska Gov. Sarah Palin as his running mate in 2008.

"I think that Sarah Palin -- I know -- that she invigorated our campaign. She galvanized our base. She and her husband and family are wonderful people," he told CNN's Piers Morgan. "I'm very proud to have them as my friends and I think that she, at the end of the day, was the right choice. I really believe that."

Many critics of Palin have said she tanked McCain's chances to become president, but McCain suggested his failed bid for the White House had more to do with the economy.

"We were three points up the day the stock market went down 700 points," he explained. "At the end of that day, we were like 5 points down. I understand that."

McCain also congratulated President Barack Obama for running a great campaign.

Watch video, courtesy of CNN, below: